Company Granted Extension by
Net Revenue for Full Year 2023 Expected to be in the Range of
GAAP Operating Expenses for Full Year 2023 Expected to be in the Range of
Company Granted Extension by
On
Expected Full Year 2023 Performance Update (Unaudited)
The Company also announced its preliminary expectations for net revenue and operating expenses for the full year 2023.
- Full year 2023 net revenue is expected to be in the range of
$20 to$21 million compared to$10.9 million for the full year 2022, representing an increase of 84% to 93%. - Full year 2023 GAAP operating expenses (“OPEX”) are expected to be in the range of
$30 to$31.5 million compared to$56.6 million for the full year 2022, representing a decrease of 47% to 44%. Management has recommended to the Board of Directors, that the Company not pay performance bonuses for the 2023 fiscal year. As a result, the Company plans to reverse an accrual of approximately$2.1 million .
The preliminary results and estimates in this press release are based on management’s initial review of our operations for the fiscal year ended
About Agile Therapeutics, Inc.
Forward-Looking Statements
Certain information contained in this press release includes “forward-looking statements”, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We may, in some cases use terms such as “predicts,” “believes,” “potential,” “continue,” “anticipates,” “estimates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “likely,” “will,” “should” or other words that convey uncertainty of the future events or outcomes to identify these forward-looking statements. Our forward-looking statements are based on current beliefs and expectations of our management team that involve risks, potential changes in circumstances, assumptions, and uncertainties, including statements regarding our financial condition, our ability to repay our debt to Perceptive, our expected net revenue and expected operating expenses for fiscal year 2023, and our ability to regain compliance with Nasdaq continued listing requirements and continue trading on the Nasdaq Capital Market. Any or all of the forward-looking statements may turn out to be wrong or be affected by inaccurate assumptions we might make or by known or unknown risks and uncertainties. These forward-looking statements are subject to risks and uncertainties including risks related to our ability to raise enough capital to fund our operations in the near term and long term, including our ability to obtain funding through public or private equity offerings, debt financings or other sources, on terms acceptable to us or at all, our ability to come into and maintain compliance with the Nasdaq Capital Market listing requirements, the potential de-listing of our shares on the Nasdaq Capital Market, our ability to continue to commercialize and grow Twirla the other risks set forth in our filings with the
Contact:
Head of Investor Relations & Corporate Communications
mriley@agiletherapeutics.com
Source:
2024 GlobeNewswire, Inc., source